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Nov. 7, 2023 By Ethan Marshall
Real estate firm PropertyShark ranked New York City as the city with the largest concentration of expensive ZIP codes in the U.S. by closed home sales.
In PropertyShark’s report, the ZIP code for Hunters Point in Queens,11109, was cited as one of the eight New York City locations to rank in the top 100 priciest ZIP codes.
Hunters Point’s ZIP code was ranked as having the fifth-highest median sale price, at $2.09 million. The only zip codes that had a higher median sale price were 10282 (Battery Park City) at $3.4 million, 10007 (Tribeca) at $3.09 million, 10013 (Tribeca/Hudson Square) at $2.97 million and 10069 (Upper West Side) at $2.17 million. Hunters Point is the lone neighborhood within the top five not located in Manhattan.
Other ZIP codes within New York City that made PropertyShark’s top 100 for most expensive ZIP codes in the U.S. include 10012 (SoHo/NoHo/NoLita) at $1.95 million, 10028 (Upper East Side) at $1.84 million and 11231 (Red Hook), also at $1.84 million. The latter ZIP code is the lone Brooklyn neighborhood to be cited as a main contributor.
When it came to the list for the 100 most expensive ZIP codes, Battery Park City’s 10282 ranked 20th, Tribeca’s 10007 came in 24th, Tribeca and Hudson Square’s 10013 ranked 27th, the Upper West Side’s 10069 came in 65th, Hunters Point ranked 72nd, SoHo, NoHo and NoLita’s 10012 was 87th, the Upper East Side’s 10028 ranked 97th and Red Hook’s 11231 was ranked 98th.
This year’s study marked the first time that New York City ranked as the epicenter of expensive zip codes since 2016.
In conducting research for this report, PropertyShark calculated median sale prices based on closed home sales instead of asking prices. This helps to reflect real market dynamics on the ground instead of sellers’ wishes — an important distinction, especially in times of significant bid-and-ask price gaps between sellers and buyers.
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